EUROPE HRC: Safeguard case decision helps raise local prices

Domestic prices for hot-rolled coil (HRC) in Europe have gone up slightly over the past week, supported by the effects of the preliminary decision in an EU safeguard case, sources told Metal Bulletin on Wednesday July 25.

Domestic prices were expected to rise further in August and September, according to market sources.
The European Commission (EC) set preliminary measures in its safeguard case on July 18, in the form of tariff rate quotas (TRQs) on 23 steel product categories, based on average import volumes over the past three years. Imports will only face a 25% tariff if the quota is exceeded. Imported HRC is included in the product list.
“The mills have been targeting higher prices, and they are likely to achieve a €20-30 [$23-35] per tonne price rise in September,” a Northern European trader said.

“All European mills have very long delivery times and have limited volumes available, so there is...

Published

Maria Tanatar

July 25, 2018

17:40 GMT

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